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HSIIDC auctions four land parcels in Gurugram, fetch Rs 500 cr

Tuesday, 27 Feb 2024
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Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) has auctioned four land parcels for residential development in Gurugram, fetching Rs 500 crore from three real estate developers.

Eldeco purchased 2.7 acres for Rs 110 crore, Trehan Iris acquired two land parcels totaling 5.08 acres for Rs 190 crore, and Conscient secured 5.56 acres for Rs 200 crore. Trehan Iris is currently working on the development plan for the plots to launch a premium residential project.

Eldeco Group had earlier acquired 8.5 acres of land for Rs 165 crore in the same sector. The Group plans to develop a luxury group housing project on this land with three and four BHK apartments in unit sizes ranging from 2,200-3,500 sq. ft. Last year, Conscient Infrastructure acquired a 6.6-acre land parcel for approx. Rs 80 crore.

The land parcels are in Sector-80, which is envisioned as the next growth area for the city and is likley to see multiple residential developments.

Haryana Shahari Vikas Pradhikaran (HSVP), the state urban development authority, and HSIIDC have been auctioning prime land for residential development in Gurugram, with developers lining up for acquisitions. HSIIDC has recently allotted 43,708 sq. mtrs.of  land for a residential project to Ashiana Housing in Sector 80. Recently, Adore Group also acquired 10.20 acres of land in Sector-77 with an investment of Rs 200 crore.


 

 
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